Guelph, Ontario--(Newsfile Corp. - November 27, 2015) - Dr. Gene Shelp, President and CEO of ENPAR Technologies, Inc. (TSX: ENP) ("ENPAR" or "the Company") is extremely pleased to announce that ENPAR has closed a private placement of $1,000,000 with its Strategic Partner in the Middle East, Saudi Brothers' Commercial Company (Saudi Brothers) of the Kingdom of Saudi Arabia (KSA).
Saudi Brothers is controlled and operated by the prominent Al-Nowaiser family, and is one of the largest privately-held holding conglomerates in the Middle East. The Company is head-quartered in Jeddah KSA, and has numerous diversified business interests, as well as offices in many parts of the world. Its basic philosophy of "New Technology", "Perfect Quality" and "Best Services" has led to their portfolio of leading edge water treatment companies such as CHEMSBRO, SUIDO KIKO MIDDLE EAST and SAWACO.
As previously reported, in May 2015 CHEMSBRO received shipment of an ESD100K unit, capable of treating 100 cubic meters of water per day. Following successful commissioning by ENPAR personnel, the unit was operated by CHEMSBRO's sister company, SAWACO, to produce high purity water for distribution to a local refinery owned and operated by SAUDI ARAMCO. The first shipment of water was delivered to the ARAMCO refinery in late August, 2015. Subsequently, CHEMSBRO purchased ENPAR's 50% stake in the ESD100K unit for CAD $180,000. The unit is currently operating at a SAWACO facility.
ENPAR is continuing to negotiate terms with Saudi Brothers for purchase of a larger ESD installation with an estimated cost exceeding $1,000,000. That unit will be used to produce larger volumes of high purity water. ENPAR believes that it will be the first large-scale commercial installation of its kind in the world.
Massive investment in the water and wastewater sector in the KSA will be essential in the coming years. Mr. Nizar Kammourie, Managing Director & developer of CHEMSBRO, indicates that "industrial and economic development, population growth, and the need to treat waste streams are key factors for increasing interest in novel water treatment technologies in the KSA." He also "anticipates that USD $60 billion will be invested in water treatment over the next six years and emphasizes the importance of water re-use for many industries. In particular, The National Water Company plans to increase the re-use of water to 30% by the year 2020. Currently, water re-use accounts for only 1% of the water supply in the KSA."
Dr. Shelp commented, "ENPAR is extremely pleased to close this private placement with a world-class company like Saudi Brothers. As a strategic partner for ENPAR in the Middle East, Saudi Brothers will enable us to penetrate a market where high-value specialty water sectors such as recycle/re-use, as well as high purity water products, are priorities. With this private placement, Saudi Brothers has re-affirmed its commitment to the exploitation of ENPAR's novel water treatment technologies in the Middle East. ENPAR is honoured to support Saudi Brothers' Commercial Company to ensure that this endeavour is the next successful water enterprise in their portfolio."
About ENPAR Technologies Inc.
ENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Technologies" to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. The commo